NYT on the Mark on the Fed and Interest Rates

The NYT had an excellent editorial on the Fed and interest rates today that nailed the main points very well. The piece pointed out that if the Fed raises rates it will slow the economy and keep people from getting jobs. There are two points that would provide a useful addendum to this piece.

First, the Fed's actions on interest rates swamp the importance of almost every government spending program designed to help low and moderate income people. There were big battles in Washington in the la...